SemiAnalysis ClusterMAX Lead @JordanNanos explains how Nebius picked up demand CoreWeave couldn’t handle and then executed well enough to reach the Platinum tier of its GPU cloud rankings: “CoreWeave has set the standard. I mean, they are the best in terms of technology.” “These guys deploy 10,000 GPUs a week at the peak when they’re building data centers. That’s incredible.” “But their balance sheet is full. There’s only so many people and resources you can marshal to build out another gigawatt when they’re going to 15 and beyond.” “We have customers coming to us and saying, ‘I saw you write such good things about CoreWeave. I just have $100 million I’m trying to give to them. They’re telling me they can’t accept it until May of next year because they’re backed up.’” “And therefore Nebius has been capitalizing.” “They’ve also executed very well. The technology that they’ve developed is strong.” “We think that managed clusters are approaching this feature-complete world where it’s hard to tell the difference in quality between Nebius and CoreWeave.” “Certainly our testing experience has been really solid on both of them.”